Score

1.54 /10
Danger

Prestige.FM

United Kingdom

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

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Comparison

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Exposure

Time Machine
Website

Score

Regulatory Index0.00

Business Index7.22

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

Danger

CH FINMA
2019-09-27

Broker Information

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Company Name

Prestige.FM

Company Abbreviation

Prestige.FM

Platform registered country and region

United Kingdom

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Prestige.FM · Company summary

Note: Prestige.FM's official website: https://www.prestige.fm/ is currently inaccessible normally.

Prestige.FM Review Summary
Founded2018
Registered Country/RegionUnited Kingdom
RegulationNo Regulation
Market InstrumentsNot mentioned
Demo AccountNot mentioned
LeverageNot mentioned
Spread3.6 pips
Trading PlatformWeb
Minimum Deposit5,000 EUR
Customer SupportPhone: +442039663668
Email: support@prestige.fm

Prestige.FM Information

Prestige.FM is an unregulated trading platform established in 2018 and registered in the United Kingdom. The platform offers a web-based trading interface and various account types with a minimum deposit requirement of EUR5000 and a spread of 3.6 pips.

Prestige.FM

Pros & Cons

ProsCons
NoneNon-functional Website
Lack of Transparency
No Regulation

Cons:

Non-functional Website: The absence of a functioning website indicates a lack of professionalism or operational issues within the company.

Lack of Transparency: The company's website is non-functional. Critical trading information such as demo accounts, leverage, spreads, and trading platforms is not provided.

No Regulation: The lack of valid regulation raises significant safety and trust concerns, as regulatory oversight is crucial for ensuring customer protection and platform transparency.

Is Prestige.FM Legit?

Prestige.FM currently lacks valid regulation. Regulatory oversight is crucial for ensuring that a financial services provider operates within established standards and adheres to specific rules and requirements designed to protect investors and clients. Without proper regulation, there is an increased risk of fraudulent activities, scams, and inadequate consumer protection.

No license

Accounts

Trading AccountMin. Deposit
Basic5,000 EUR
Advanced25,000 EUR
Expert75,000 EUR
PrestigeNot mentioned

Prestige.FM offers four account types, Basic, Advanced, Expert and Prestige, with different minimum deposit requirements. It requires a minimum deposit of 5,000 EUR for the Basic account, which is much higher than the industry average 100 USD or quivalent.

Leverage

No info on leverage can be found currently.

Spread & Commissions

Trading AccountSpread
Basic3.6 pips
AdvancedNot mentioned
Expert
Prestige
For the Basic account, the spread is very wide, up to 3.6 pips, while spreads for other account types are unknown. As for the commission, no info can be found currently. All indicates that Prestige.FM is not a good choice for trading.

Trading Platforms

Prestige.FM only provides a web-based trading platform.

Deposits & Withdrawals

Prestige.FM supports deposits and withdrawals through standard methods such as Visa, MasterCard, and bank wire transfers. However, popular e-wallets like WebMoney, Neteller, and Skrill are not currently available for transactions on their platform.

Customer Service

Prestige.FM's support team can be reached through:

  • Phone: +442039663668
  • Email: support@prestige.fm

Conclusion

In conclusion, Prestige.FM's unregulated status raises significant concerns about its safety and legitimacy. The lack of complete and transparent information about its trading assets, account details, and other service sections can hinder a trader's decision-making process.

Now, the ball's in your court when it comes to choosing whether to go with this broker or explore other options. Hopefully, this review has shed some light on your decision-making process.

Q&A

Is Prestige.FM regulated?

No. It has been verified that this broker currently has no valid regulation.

What is the minimum deposit for Prestige.FM?

5,000 EUR.

Is Prestige.FM a good broker for beginners?

No. It is not a good choice for beginners. Not only because of its unregulated condition but also because of its inaccessible website.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

User Reviews

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User comment

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Comments

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安99268
more than one year
What a ridiculous excuse, this broker claimed that the website was closed because of the coronavirus pandemic, I guess they must have run away. After making enough money (in fact, stealing the money of those innocent people) they patted their asses and left, no one could contact them, and no one could control them, and these scammers continued to get away with it, maybe they changed their trading names and continued to cheat money on other platforms.
What a ridiculous excuse, this broker claimed that the website was closed because of the coronavirus pandemic, I guess they must have run away. After making enough money (in fact, stealing the money of those innocent people) they patted their asses and left, no one could contact them, and no one could control them, and these scammers continued to get away with it, maybe they changed their trading names and continued to cheat money on other platforms.
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2023-03-21 11:49
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安99268
more than one year
What a ridiculous excuse, Prestige.FM claimed that the website was closed because of the coronavirus pandemic, I guess they must have run away. After making enough money (in fact, stealing the money of those innocent people) they patted their asses and left, no one could contact them, and no one could control them, and these scammers continued to get away with it, maybe they changed their trading names and continued to cheat money on other platforms.
What a ridiculous excuse, Prestige.FM claimed that the website was closed because of the coronavirus pandemic, I guess they must have run away. After making enough money (in fact, stealing the money of those innocent people) they patted their asses and left, no one could contact them, and no one could control them, and these scammers continued to get away with it, maybe they changed their trading names and continued to cheat money on other platforms.
Translate to English
2023-03-21 11:48
Reply
0
0